V.F. Corp. (VFC) V.F. Corp. Shares Up 3% on Strong 2023 Outlook, Despite Q4 Earnings Miss
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VF Corporation Reports Broad-Based Growth in Fourth Quarter and Introduces Full Year Fiscal 2023 Outlook
May 19, 2022 4:05 PM EDTDENVER--(BUSINESS WIRE)-- VF Corporation (NYSE: VFC) today announced financial results for its fourth quarter (Q4'FY22) and fiscal year ended April 2, 2022 (FY22).
Q4'FY22 Financial Highlights
Revenue $2.8 billion, up 9% (up 12% in constant dollars) The North Face® revenue $0.8 billion, up 24% (up 26% in constant dollars) Vans® revenue $1.0 billion, flat (up 2% in constant dollars) Gross margin 51.9%, down 20 basis points; Adjusted gross margin 52.2%, down 50 basis points Operating margin 6.8%, up 210 basis points; Adjusted operating margin 7.9%, up 120 basis points Earnings per share (EPS) $0.21, up 32%;... More